Posted by Moderator 864 days ago (http://dennisohagan.typepad.com)
Category: Blogs and Commentary | Tags: insurance coverage mold damage
There are many factors that can affect the cost of homeowners insurance. Here's a description of some of the more common factors.

Generally, as your home gets older, the cost of insuring it may increase. Older homes have more things that can go wrong, often related to outdated wiring, older plumbing, or lead paint.

The location of your home also can affect your insurance premium. Insurers generally regard homes located in urban areas to be at a higher risk of burglary than comparable suburban homes, translating to a higher premium cost for metropolitan area houses. Insurance may cost more if your home is located in an area prone to a specific peril, such as floods, or in a rural area far from a fire station or fire hydrant.

Living in an area prone to claims for mold damage can increase your premium. In fact, excessive mold damage can be so costly to repair that some insurers either are significantly increasing premiums to insure mold damage, or they're eliminating coverage completely.

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